Stellar Lumen (XLM) Price Resume Decline, Risk of More Losses
- Stellar lumen price started a fresh decline from the $0.1150 resistance zone against the US Dollar.
- XLM price is now trading below $0.1125 and the 55 simple moving average (4-hours).
- There is a connecting bullish trend line forming with support near $0.1100 on the 4-hours chart (data feed via Kraken).
- The pair could continue to move down if it breaks the $0.1100 and $0.1080 support levels.
Stellar lumen price is trading below $0.1150 against the US Dollar, similar to bitcoin. XLM price must stay above the $0.1080 support to avoid more losses.
Stellar Lumen Price Analysis (XLM to USD)
After a steady increase, stellar lumen price faced sellers near the $0.1150 zone against the US Dollar. The XLM/USD pair formed a high near $0.1153 before it started a fresh decline.
There was a move below the $0.1145 and $0.1140 levels. The pair declined below the 50% Fib retracement level of the upward move from the $0.1093 swing low to $0.1153 high. The price is now trading below $0.1125 and the 55 simple moving average (4-hours).
An initial support on the downside is near the $0.1108 level. It is near the 76.4% Fib retracement level of the upward move from the $0.1093 swing low to $0.1153 high.
The main support is near the $0.1100 zone. There is also a connecting bullish trend line forming with support near $0.1100 on the 4-hours chart. Any more losses could lead the price towards the $0.1080 level in the near term, below which the price might even retest $0.1065.
On the upside, the price is facing resistance near the $0.1116 zone and the 55 simple moving average (4-hours). The next major resistance is near the $0.1140 level.
The main resistance is still near the $0.1155 zone. A clear move above the $0.1155 level might send the price towards the $0.1180 level. Any more gains could lead the price towards the $0.1200 level or even $0.1220.
Stellar Lumen (XLM) Price
The chart indicates that XLM price is now trading below $0.1150 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $0.1100 and $0.1080 support levels.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is gaining momentum in the bearish zone.
4 hours RSI – The RSI for XLM/USD is now below the 50 level.
Key Support Levels – $0.1100 and $0.1080.
Key Resistance Levels – $0.1140, $0.1150 and $0.1200.
The post Stellar Lumen (XLM) Price Resume Decline, Risk of More Losses appeared first on Live Bitcoin News.